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Japan extends Financial Support to India

Published on September 01, 2020
Current Context: Japan has announced to grant a financial loan assistant support to India to fight COVID-19 crisis.
Japan extends Financial Support to India
  • Under this, Japan has offered a loan amount of Rs 3500 crore to India.
  • This loan amount will help India to implement health and medical policies, to uplift the telemedicine with the help of digital technology in the rural part of India.
  • The loan amount will also help to take precautionary measures to fight COVID-19.
  • Japan has granted a loan at an interest rate of 0.01% per annum and a redemption period of 15 years, including 4 year grace period.
  • The dignitaries exchanged the documents for the provision of grant aid worth 1 billion yen under Japan’s Official Development Assistant scheme for India’s Economic and Social Development Programme.
  • Static Part: 
    • Capital of Japan: Tokyo
    • Currency of Japan: Japanese Yen

Question:

Q.1 Recently, how much loan amount is approved by Japan to India to fight COVID-19?
a. Rs 4500 crore
b. Rs 1500 crore
c. Rs 5500 crore
d. Rs 3500 crore
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